Search Results

Contractor income protection and the myth of unemployment cover exposed
Angela James of Contractor Wealth highlights the pitfalls that face contractors in the event of job loss, illness or injury.
�im to be suitable for those working on fixed term contracts. The product providers and brokers who sell these� �the event of a claim. Even when they are not in a contract, contractors are still nominally employed by thei�
Category: Articles: Contractor Income Protection | Fri, 13 Feb 2009

Why contractors cannot rely on unemployment benefit
Contractors will find that, even if eligible, unemployment benefit in the form of Job Seeker’s Allowance falls well short of their household bills.
�personal allowance, or who are relatively new to contracting and had a permanent job in the two years before t� �t make their own arrangements for periods between contracts, and that also includes preparing for times when� �out to pay for household outgoings if there is no contract income. Cash savings and investments that can be�
Category: Articles: Contractor Income Protection | Thu, 31 Mar 2016

False Self-Employment legislation - explained
Most contractors should remain outside of the False Self-Employment legislation, which is mainly targeting self-employed sole traders.
�under obligation to provide personal services The contract is via a third party agency contract The worker i�
Category: Articles: False Self Employment | Wed, 21 May 2014

How to protect earnings if you are unwell using income protection policies
To ensure you still get paid when you are unwell you can protect your income based on your contract rate
�w company salary. Many specialist advisors in the contracting market have access to special contract rate-based� �y basis during the course of a year as you change contracts. Basing income and premiums on an annualised cont� �provide a level of cover based on your annualised contract rate, and not just on your low company salary. Ma�
Category: Articles: Contractor Income Protection | Thu, 29 Sept 2016

Why you need income protection to avoid major financial difficulties
You need income protection to ensure you and your family have an income if you becomes too ill to work.
�g cover. When choosing to leave employment and go contracting, you simply no longer have the safety net of sick� �an income when you are ‘on the bench’ in between contracts. There are two main types of income protection. L�
Category: Articles: Contractor Income Protection | Mon, 24 Oct 2016

Contractor Doctor: Can I claim payment protection working for an umbrella company?
When a contract is terminated, umbrella company contractors remain employed and can’t claim payment protection.
�h has a contract with an agency, which in turn is contracted by the end-user client to provide contractors. Co� �Dear Contractor Doctor, I have been contracting through an umbrella company and my contract was t� �not made redundant or given the sack, but that my contracts simply came to an end. What can I expect my umbre� �en contracting through an umbrella company and my contract was terminated early. Since then, I have managed�
Category: Articles: Contractor Income Protection | Tue, 27 Jun 2017

Contractor guide to the settlements legislation S624 ITTOIA 2005, formerly S660
Contractors can assign shares to a spouse despite the settlements legislation, because of the Arctic Systems case.
�ommercial transaction, the valuation process of a contracting business is inherently flawed. If an HMRC inspect�
Category: Articles: Settlements Legislation | Mon, 30 Jan 2012

Settlements legislation (S624/S660): minimising risks of an inspection and penalties
Contractors sharing income with a non-fee-earning partner can adopt a number of strategies to avoid an HMRC inspection that could result in penalties.
�ouse can make an investment and buy shares in the contracting business at market rate. This may be a good optio�
Category: Articles: Settlements Legislation | Mon, 24 Jul 2017

Why contractors need life insurance
Contractors don’t have employee benefits, so must ensure their loved ones have a financial safety net if the worst happens.
�tractors need life insurance because when they go contracting, they lose all their employee benefits and become�
Category: Articles: Contractor Life Insurance | Wed, 13 May 2015

Relevant life policies versus Key person insurance – explained
Contractors need to understand the differences between Relevant Life Policies and Keyperson insurance to choose the best protection for their needs.
�contractor has an ambitious growth plan for their contracting business and has fellow directors or employs seni�
Category: Articles: Contractor Life Insurance | Mon, 14 Mar 2016